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Life as a Continuum Running on Loop Back and Forth from Risk to Reward

Life is a series of bets. Decisions on top of decisions. Choosing a trading strategy is one of those decisions to bet on. Consider an excerpt from Trend Commandments:

You want to see life as a continuum running on a loop back and forth from risk to reward. If you want a big reward, take a big risk. If you want an average reward and an average life, take an average risk. Easier said than done, however, if you want the big reward. Our system is notorious for playing Whac-A-Mole with achievers. From an early age, people are conditioned by families, schools, and virtually every other shaping force in society to avoid risk. To take risks is inadvisable; to play it safe is the message. Risk can only be bad. However, winners understand risk is highly productive, and not something to avoid. Taking calculated risks is different from acting rashly. Playing it safe is the true danger. Far more often than you might realize, the real risk in life turns out to be the refusal to take a risk. If life is a game of risk, then to one degree or another, being comfortable with assessing odds is the only option for a fulfilling life. Consider trading from a “startup” business perspective. Every business is ultimately involved in assessing risk. Putting capital to work to make it grow is the goal. In that sense, all business is the same. The right decisions lead to success, and wrong ones lead to insolvency.

Blunt, but true.

Now, feedback from a listener that made the right bet:

Trend following has indeed changed my life. After a 20-year career on Wall Street I am now a successful, profitable, independent trader. Have I made money with trend following? Yes, indeed. Living a nice life in Chicago with three kids going to private school, enjoying the finer things. My strategy is not difficult to execute at all. Very basic and straight forward. I keep it as simple as possible. I will absolutely continue to execute this strategy. Mind you–always looking at new information and ideas.

Thanks!

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Posted in Feedback, Risk Management, Trend Following
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